Advertisement

Porvair profit soars in record year

Environmental technology group Porvair reported a 40 per cent increase in annual pre-tax profit but said while 2013 has started well, with healthy order books, it remains cautious about the general economic outlook.

Environmental technology group Porvair reported a 40 per cent increase in annual pre-tax profit but said while 2013 has started well, with healthy order books, it remains cautious about the general economic outlook.

For the year ended November 30th 2012 revenues grew by 12% to a record £76.5m compared to £68.1m in 2011. Pre-tax profit jumped to £6.3m during the period from £4.5m before.

Advertisement - Article continues below

Basic earnings per share rose 38% to 10.1p while net debt reduced by 24% to £3.9m.

Porvair, which invested £3.5m in three small acquisitions, said all are now fully integrated and running well.

Chief Executive Ben Stocks commented: "Porvair's strategic direction and operating objectives remain consistent and are producing good results. We focus on niche markets, which have structural growth drivers. 2013 has started well and order books are healthy."

"The Board remains cautious about the general economic outlook, but the fundamentals of the markets in which the group operates look satisfactory. After a record year we expect revenue to grow at a more moderate rate in 2013. There is plenty of opportunity across Porvair for market share gains and the Board's outlook is positive."

A final dividend of 1.6p has been recommended, up from 1.4p in 2011.

CJ

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/broker-safety-your-questions-answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Visit/investments/property/601606/house-prices-crash-uk-property-prices-falling-where-next
Property

House price crash: UK property prices are falling – so where next?

With UK property prices falling for the first time in eight years, are we about to see a house price crash? John Stepek looks at what’s behind the sli…
2 Jul 2020
Visit/economy/inflation/601584/the-end-of-the-bond-bull-market-and-the-return-of-inflation
Inflation

The end of the bond bull market and the return of inflation

Central bank stimulus, surging post-lockdown demand and the end of the 40-year bond bull market. It all points to inflation, says John Stepek. Here’s …
30 Jun 2020
Visit/investments/stockmarkets/601611/nasdaq-all-time-high-markets-and-the-real-economy
Stockmarkets

How can markets hit new record highs when the economy is in such a mess?

Despite the world being in the midst of a global pandemic, America's Nasdaq stock index just hit an all-time high. And it's not the only index on a bu…
3 Jul 2020